Okla. Stat. tit. 2, § 2-9-26: Insurance – Notice of loss

A. Each state-chartered warehouseman shall insure and keep

insured, in the warehouseman's own name, all of the commodities in

store, received for storage, or handled for storage for the full

market value of the commodities, against loss or damage by fire,

lightning, inherent explosion, windstorm, cyclone, or tornado.

B. In the event of any loss or damage to the commodities or the

warehouse, the warehouseman shall immediately notify the State Board

of Agriculture and at the expense of the warehouseman promptly take

the steps necessary to collect any monies which may be due as

indemnity for the loss or damage.

C. In the event the warehouseman insures against hazards not

specified, the insurance shall inure to the benefit of the

producers.